##  The US Entrepreneur Exodus: A Brain Drain? 

Yuanchu “Andrew” Liu, a Syracuse University graduate, embodies a common dilemma faced by international students in the US. After graduating in 2015, Liu, a budding entrepreneur, was forced to return to China due to restrictive federal immigration policies.  This policy hinders entrepreneurs from staying in the US, potentially depriving the country of valuable talent, tax revenue, and job creation.

Liu's story highlights a significant issue: the US invests in educating global entrepreneurs, only to see them leave for other countries.  His company, based in China, employs over a dozen people and oversees the safety of 450,000 elevators in the region. This lost potential is a concern for the US economy and talent pool.

**New York City's Innovative Solution**

New York City is taking a proactive approach to address this issue. Recognizing the talent pool represented by international graduates, the city is developing new initiatives to attract and retain these entrepreneurs.  By providing a welcoming environment and resources, New York hopes to create a hub for global innovation and entrepreneurship.

This move highlights the growing recognition of the importance of retaining international talent.  With its thriving entrepreneurial ecosystem and welcoming environment, New York City aims to become a haven for innovative minds from around the world.

US Educates Global Entrepreneurs, Then Pushes Them Out:  A NYC Solution?

In January last year, **German biotech company BioNTech** acquired **African AI startup Instadeep** for over **$550 million**, marking a significant moment for the continent's tech landscape. Instadeep, which has been operating under this new umbrella for just over a year, has made impressive strides in AI applications for **biotech** since its acquisition.

## Instadeep's Innovative Solutions
Instadeep utilizes **advanced machine learning techniques** to integrate AI into enterprise applications, offering products that range from **GPU-accelerated insights** to **self-learning decision-making systems**. Before the acquisition, it raised over **$108 million** from notable investors like **Google** and **Deutsche Bahn**.

The startup has collaborated on impactful projects, including:
- Developing an **early warning system** for COVID-19 variants with BioNTech.
- Partnering with **Google DeepMind** to create a detection system for desert locust outbreaks.
- Automating railway scheduling for **Deutsche Bahn**.

These collaborations showcase the various applications of Instadeep's technology, especially in aiding BioNTech's mission to develop **therapeutics** and **vaccines** for cancers and infectious diseases.

## Achievements Post-Acquisition
Fifteen months post-acquisition, **CEO Karim Beguir** reported significant progress, emphasizing Instadeep's strategic alignment with BioNTech's goals while also maintaining independence in serving clients outside biotech. Key accomplishments include:
- Enhancements in **histology** processes, accelerating tissue analysis workflows by **5x** through visual AI.
- Completion of the **RiboMab project**, which integrates mRNA-encoded antibodies into BioNTech’s immunotherapy toolkit.

## Commitment to Data Security
With sensitive healthcare data at stake, both companies exercise extreme caution. While BioNTech manages personal patient data, Instadeep develops AI models trained on publicly available data, ensuring rigorous privacy protocols are followed, especially with their **Nucleotide Transformer** model.

## Future Developments
Looking ahead, Instadeep is focused on deploying **Bayesian flow networks (BFN)**, a new generative AI model for proteins that outperforms existing models. Beguir likens the current state of **biological AI** to where natural language processing was with **GPT-3** in 2020, highlighting the potential for significant advancements.

Additionally, Instadeep continues to innovate outside of biotech, working on **industrial optimization** projects with partners like **Deutsche Bahn** and **Fraport**.

## Growth and Impact
Since the acquisition, Instadeep has expanded its workforce to over **400 employees** globally, including a new office in **Kigali** focusing on **geospatial intelligence**. Their **InstaGeo** framework utilizes satellite imaging to predict locust breeding grounds, demonstrating how AI can address pressing challenges like **food security** in Africa.

This trajectory showcases how Instadeep is not just a player in the AI space but a **pioneer** in integrating cutting-edge technology with real-world applications that can significantly impact health and agriculture across the continent.

In January last year, German biotech company BioNTech acquired African AI startup Instadeep for over $550 million, a deal finalized in July of the same

Unlocking the Future of AI in Biotech: Insights from Africa's Leading Startup CEO

On a night where **43North** celebrated a decade of impact in Western New York, **Buffalo startup FoodNerd** emerged as a standout winner. The company, founded by **Sharon Cryan**, clinched a **$1 million investment** from 43North and also took home the **$25,000 People's Choice Award** during the finals held at **Shea’s Buffalo Theatre**.

![Sharon Cryan, founder of FoodNerd](https://bloximages.chicago2.vip.townnews.com/buffalonews.com/content/tncms/assets/v3/editorial/b/9b/b9b4e6ce-878b-11ef-9b66-9348a2a9dbe9/6708ad8dbae9f.image.jpg?resize=1200%2C800)
*Sharon Cryan, founder of FoodNerd, gives her pitch during the 43North Finals at Shea’s Buffalo Theatre on Thursday, Oct. 10, 2024.*

**FoodNerd** is a **food technology platform** that is redefining the processing of shelf-stable foods through its **patent-pending technology** that creates **nutraceutical-grade food**. Cryan, a Buffalo native and attorney, expressed her gratitude, stating, "Everything about FoodNerd and why I wanted to make a difference was born out of Buffalo."

The **10th anniversary cohort** of the **43North startup accelerator** included four other winners: **CoverRight**, **HeronAI**, **Spiky.ai**, and **Rarebird**. Governor **Kathy Hochul** attended the event, emphasizing the importance of nurturing the next generation of entrepreneurs.

Winners must base their operations in Buffalo for at least a year, with 43North taking a **5% equity stake** in their businesses, aiming to encourage them to remain and invest in the region.

### FoodNerd’s Big Move
Cryan has ambitious plans, moving from an **8,000-square-foot facility** to a **30,000-square-foot** site in **Clarence** to nearly double production. The company primarily targets children aged **8 months to 3 years** and has secured a **$4 million funding round**. Cryan remarked, "We are such a food town to our core... I’m just so proud of it."

### A Homecoming for HeronAI
**Daphne Pariser**, founder of **HeronAI**, is returning to Western New York with plans to help accounting firms save time through an automated platform. HeronAI has seen significant growth, amassing a waitlist of **1,600 potential clients**.

### A Long Trip for RareBird
**Jeffrey Dietrich**, founder of **RareBird**, is set to introduce a patented coffee with a **caffeine replacement**. He plans to establish a roastery in Buffalo, leveraging a **$1.7 million National Science Foundation grant**.

### CoverRight’s Focus on Older Adults
**CoverRight**, founded by **Kevin Chan**, guides older adults through health, finance, and lifestyle options, addressing the challenges that come with retirement.

### Spiky.ai Embraces AI
**Spiky.ai** utilizes AI to provide real-time insights for revenue teams, already analyzing **6,000 meetings** weekly and working with major entities like **Google** and **Salesforce**. Aksar, the founder, aims to establish a headquarters in Buffalo to expand their operations.

The night was a celebration of innovation and entrepreneurial spirit, showcasing the potential of startups in Buffalo’s vibrant ecosystem.

FoodNerd, one of the competition’s three semifinalists from Buffalo, was among the five winners of a $1 million investment from 43North and took home the $25,000 People’s Choice Award at

Buffalo's FoodNerd Wins Big at 43North: The Future of Food Technology

## Arkham Intelligence's Bold Move into Crypto Derivatives

Arkham Intelligence Inc., a **blockchain data company** backed by notable investors including **OpenAI founder Sam Altman**, is gearing up to launch a **crypto derivatives exchange** next month. This strategic move comes as the company relocates its operations from **London and New York** to **Punta Cana, Dominican Republic**.

### What You Need to Know About Arkham's Exchange

- The new exchange will primarily target **retail investors**, aiming to compete with leading platforms like **Binance**. However, it will **not be open to US investors**.
- Arkham plans to operate under a **Dominican Republic free-trade zone license**, which offers **tax exemptions** and fiscal benefits that could enhance its competitive edge.
- Following the announcement, the **Arkham token (ARKM)** saw a significant rise of **19%**, bringing its market capitalization to approximately **$344 million**.

### Industry Context and Market Opportunity

The cryptocurrency derivatives market has seen substantial growth, with **$3.07 trillion** traded in September alone, accounting for roughly **71% of total crypto volume**. Arkham's entrance into this space comes amid a backdrop of regulatory changes affecting major players like Binance and the collapse of FTX, which have reshaped the landscape.

### Building for the Future

Arkham has been developing its exchange technology internally for over a year and is in the process of raising up to **$100 million** from investors in the Middle East to support its expansion. The company boasts around **880,000 monthly active users** on its data platform, which it hopes will facilitate customer acquisition for the new exchange.

### Brand Promotion Strategies

To enhance its brand visibility, Arkham signed a **€1.8 million ($2 million)** sponsorship deal with **Turkish football club Galatasaray**, which will feature its logo on players' shirt sleeves. This initiative aims to solidify Arkham's presence in the crypto space and engage a wider audience.

Arkham Intelligence is poised to make a significant impact in the cryptocurrency market, leveraging its unique position and innovative approach to attract retail investors and build a robust trading platform.

(Bloomberg) -- Arkham Intelligence Inc., a blockchain data company backed by investors including OpenAI founder Sam Altman, is planning to launch a crypto derivatives exchange next month, according to a person familiar with the initiative.Most Read from BloombergThe Cablebus Transformed Commutes in Mexico City’s Populous OutskirtsSan Francisco to Shut 9% of Public Schools Amid Budget WoesAs Brussels Booms, an Old Boogeyman Returns: BrusselizationChicago Marathon to Honor Kenyan Who Died After Hi

Arkham Intelligence: The New Crypto Exchange Set to Challenge Binance, Backed by OpenAI's Sam Altman

The **Department of Justice's** proposal to dismantle Google marks a pivotal moment in the tech industry. If successful in court, this move could significantly **benefit AI startups** by promoting **competition** and **innovation** in the sector. 

### The Implications of a Google Break-Up 

The tech giant's breakup could lead to a more diverse landscape where smaller, **agile startups** can thrive without the overshadowing presence of a corporate behemoth. This is particularly relevant in the **AI sector**, where new players could emerge with unique solutions and ideas. 

### What This Means for Startups 

AI startups could find themselves with enhanced opportunities for funding and **market access**. Investors may be more inclined to support **innovative technologies** that challenge the status quo, leading to a surge in new ideas and applications. 

### A New Competitive Landscape 

With Google’s dominance potentially curtailed, the tech landscape could experience a shift, allowing **entrepreneurs** to explore uncharted territories and develop **disruptive technologies** that could cater to diverse consumer needs. 

### Conclusion 

In conclusion, the proposed breakup of Google could be a game-changer for the tech industry, especially for **AI startups** looking to carve out their niche in a competitive market.

The Department of Justice’s proposal to shake up the company is a seminal moment for the industry. If it prevails in court, AI start-ups could benefit

Could Breaking Up Google Spark a New Era for AI Startups?

### The Main Item

**AI is transforming the legal landscape**, similar to its impact on software development. Venture capitalists are increasingly investing in legal tech startups, with **investment in the sector set to reach new highs this year** according to Crunchbase.

Several startups are emerging with innovative solutions. For instance, **Harvey** aims to be an all-in-one platform for legal tasks, while **Cicero**, a stealth startup, is developing AI tools specifically for Chief Legal Officers at Fortune 500 companies. **Norm Ai** focuses on regulatory compliance, ensuring that documents adhere to legal standards, and **EvenUp** assists personal injury lawyers with case preparation and negotiation tools.

![AI Legal Startups Market Map](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa3fd4226-6030-47e1-a3d9-03f6505e5f58_1280x720.png)

**Legal documents are often repetitive and formulaic**, making them ideal candidates for AI assistance. However, challenges remain for AI in high-stakes legal reasoning, where certainty is paramount. **Aaref Hilaly** from BCV emphasizes the need for precision in legal AI applications to avoid costly mistakes.

Recent controversies highlight the caution necessary in this space. The FTC recently fined **Joshua Browder’s DoNotPay** for overstating its AI capabilities. 

### Market Dynamics

Despite a global slump in venture capital, AI startups in the legal sector are thriving. **2024 is on track to match 2021's record levels**, with **$2.4 billion** in deal value already reported this year. However, the investment landscape is uneven, with regions like **Asia** witnessing significant declines in funding, while **Latin America** saw a modest increase.

![Venture Capital Trends](https://substackcdn.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5df01b7f-6db4-493a-9ec8-fd5f2182d0d9_1584x1094.png)

As the legal tech sector evolves, startups are exploring either highly specific niches or comprehensive solutions to capture market share, with **VCs showing interest in both strategies**. **Battery Ventures’ Brandon Gleklen** noted that firms are eager for one-stop solutions in legal tech, reflecting broader market trends.

### Data Deep-Dive

Overall, while the legal tech sector thrives, the **global venture environment remains challenging**, with varying performance across regions. As legal AI continues to develop, it will be essential to monitor how these startups navigate the complexities of legal work and investor expectations.

Plus, venture investing across the globe slipped in Q3

Why Venture Capitalists are Obsessed with AI's Legal Revolution

### **Venture Capital Landscape Changes**  
The **venture capital** scene is experiencing notable shifts as **deal activity** begins to **slow down**. This trend raises questions about the future of startup funding and the implications for entrepreneurs.  
  
### **Key Factors Contributing to Slowdown**  
Several factors are influencing this change, including:  
- **Economic uncertainty**: Investors are becoming more cautious amidst fluctuating economic conditions.  
- **Market saturation**: Many sectors are seeing an oversupply of startups, leading to increased competition for funding.  
- **Shifts in investor focus**: Investors are now prioritizing profitability over growth, altering their investment strategies significantly.  
  
### **Impact on Startups**  
The slowdown in venture capital could lead to:  
- **Increased difficulty in securing funding**: Startups may find it harder to attract investors.  
- **A focus on sustainable business models**: Companies that can demonstrate profitability may have a better chance of securing funding.  
- **Emerging opportunities**: With the right strategy, startups in less saturated markets could still find success.  
  
### **Conclusion**  
As the venture capital landscape evolves, both investors and entrepreneurs must adapt to the changing environment. Understanding these trends is crucial for navigating the future of startup funding effectively.

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Is Venture Capital Losing Its Momentum? Insights on Slowing Deal Activity

Have you ever felt like you’re working hard but not making the **progress you want**? I’ve been there, and I know how frustrating it can be. As the founder of Hack Spirit, I’ve spent years diving deep into **personal development**, trying to unlock the secrets to **greater productivity** and **success**. What I’ve learned is that often, it’s not just about what we’re doing—it’s about the **habits** we don’t even realize are holding us back.

Some of these habits might seem harmless or even helpful at first glance. But they can actually be stealthy **productivity killers**, sabotaging your efforts without you even noticing.

The good news? Once you recognize them, you can make simple shifts to get back on track. Today, I’m sharing **five habits** that could be quietly slowing you down—and what to do instead.

### 1) Multitasking
Believe it or not, **multitasking is a myth**. We often think of juggling multiple tasks at once as an efficient way to get things done. But the reality? Not so much.

**Research has shown** that our brains aren’t designed to handle multiple tasks at once. Instead, when we multitask, we’re actually just rapidly switching between tasks, which can reduce productivity by up to **40%**. So, next time you’re tempted to check your emails while on a conference call, remember: it’s more efficient to focus on **one task at a time**.

### 2) Skipping Breaks
This is a habit I’ve personally struggled with. In the hustle and bustle, I often found myself **skipping breaks** to ‘save time’. But here’s the thing: skipping breaks doesn’t actually save time; it hampers productivity.

Our brains need time to rest and recharge. **Studies suggest** that we can concentrate for no longer than **90 minutes**. By scheduling short breaks every hour, I found myself feeling more refreshed and focused, and my productivity soared.

### 3) Neglecting Self-Care
In our fast-paced world, it’s easy to put off **self-care**. However, neglecting self-care is a counterproductive habit that holds us back. According to experts, self-care is crucial for our **mental and physical health**. When we’re feeling our best, we’re more capable of tackling challenges and achieving our goals.

I learned this lesson the hard way. It wasn’t until I made self-care a priority—by sticking to a sleep schedule and making time for exercise—that I noticed a real shift in my energy and focus.

### 4) Accepting Only “Perfection”
Do you ever find yourself reworking something over and over again, waiting for it to be “just right” before moving forward? **Perfectionism** is a trap closely linked to procrastination—a massive productivity killer.

Instead of aiming for perfection, aim for **progress**. Set realistic goals, and remind yourself that most tasks don’t require flawless execution—they just need to get done. Remember, **done is better than perfect**!

### 5) Always Saying “Yes”
It may seem counter-intuitive, but always saying “yes” can actually be holding you back. We often feel the need to please others and take on more tasks. But stretching ourselves too thin can lead to **burnout** and decreased productivity.

It’s important to remember that it’s okay to say “no” sometimes. By saying “no” more often, we can prevent over-commitment and ensure we have the time and energy to do our best work. As psychology professor Adam Grant puts it, “**Saying no frees you up to say yes when it matters most**.”

Have you ever felt like you’re working hard but not making the progress you want? I’ve been there, and I know how frustrating it can be. As the founder of...

US Educates Global Entrepreneurs, Then Pushes Them Out: A NYC Solution?

Summary:

The US Entrepreneur Exodus: A Brain Drain?

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